topic Re: USAA & NFCU!!! Please Help! in Credit Cards

USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 15:40:16 GMT

These two cards are very much so on my radar! My question is what was everyone's credit file when they were approved for these? Credit scores, utilization levels, inquiries, late payments, collections? I REALLY want them both, but don't think my credit file is strong enough yet.

My credit file: 530, 524, 564

Revolving: 2 First Premiers cards - $300 limits each, 3 store charge cards - $400, $300, $500 respectively, never late on ANY...

Installment: personal loan $1500/$1800 - never late, auto loan $0/$9733 - 3 30day lates and 2 60day lates, student loan $0/$1400 - never late

Collections: 3 total left, $279 - 2008, $75 - 2006, $307 - 2010

Please Advise!

Thanks!

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 15:46:57 GMT

I think you need to build up your credit and let the baddies fall off. It will be awhile before you are able to get good prime accounts like usaa and nfcu.

I would recommend that you ditch the first premier cards if they are charging you fees. It would be better to instead get good secured cards with high limits.

Do what you can about the baddies on your report. Either find ways to get them off by checking the rebuilding section of this forum. Or just wait for time to do its work.

When your scores are in the 700 range, and you have good long history with high limit cards. Then it will be time to start looking at prime accounts.

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 16:02:48 GMT

@Anonymous wrote:
I think you need to build up your credit and let the baddies fall off. It will be awhile before you are able to get good prime accounts like usaa and nfcu.

I would recommend that you ditch the first premier cards if they are charging you fees. It would be better to instead get good secured cards with high limits.

Do what you can about the baddies on your report. Either find ways to get them off by checking the rebuilding section of this forum. Or just wait for time to do its work.

When your scores are in the 700 range, and you have good long history with high limit cards. Then it will be time to start looking at prime accounts.

Re: USAA & NFCU!!! Please Help!

sbeasl11 — Fri, 19 Oct 2012 18:30:02 GMT

If you are a "full member", you may be offered a secured mastercard through USAA. DH has 3 open collections & when he applied for their credit card, he was denied, but offered a secured card instead. We jumped on it because we had to get a positive tradeline reporting. His scores were similar to yours. We are both going to be eligible to join NFCU in Jan., so we can't wait. Good luck!

Re: USAA & NFCU!!! Please Help!

Duncanrr — Fri, 19 Oct 2012 18:33:24 GMT

https://www.navyfederal.org/products-services/cards/creditcards/nrewards-secured.php

NFCU also has a secured card (see link above).

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 18:48:49 GMT

Thanks thanks! Exactly the kind of info I needed...

But more specifically, is there anyone who has had any approvals with credit scores in the low 600s or possibly even high 500s. My scores are accurate today but will not be in a few days because I paid off my FP cc balances. Forgot to do so last month and scores plummeted to where they are currently from 590, 587, and 611 respectively. Am very certain they will rise again.

Re: USAA & NFCU!!! Please Help!

Duncanrr — Fri, 19 Oct 2012 18:55:28 GMT

I got approved for Secured Cards from WF and Cap1 when my scores were around 550ish. NFCU is known to be forgiving so I wouldnt think you would have too much problems with them. Their CSR also have a good rep, you could call them and ask.

Re: USAA & NFCU!!! Please Help!

bbb3601 — Fri, 19 Oct 2012 19:25:52 GMT

I wouldn't app at Navy until you are 620+ at that number you would probably see 2-3k starting.

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 19:59:53 GMT

Thanks! That's the more specific info I needed confirming. I know all my scores with be back in the 600 range give or take 10-15 pts. But I will desperately continue working to get the last few baddies removed: 3 collections, and 5 late payments. More specifically 1 of the collections that is showing to be most recent of 2010. And the three late payments from this year GWd since that auto loan is now paid off.

That should be enough to get me above 620, then I will app for these. Was not necessarily looking for a super high CL though. Just wanted to get in the door with them. Would you both still think I wouldn't get approved for even $1k?

Re: USAA & NFCU!!! Please Help!

bbb3601 — Fri, 19 Oct 2012 20:09:16 GMT

It's honestly a YMMV with any application for credit. Where did you get your scores, and which score is which? They pulled EQ for me. I know why you want in with them as I felt the same way. I waited a few extra months and I am glad I did. I was 660's I believe, and to be honest my uti was up at the time, but it didn't phase them. Who are you small collections with?

Re: USAA & NFCU!!! Please Help!

rm3 — Fri, 19 Oct 2012 20:18:24 GMT

I was just recently approved for NFCU n-rewards visa with a EQ Fico 579 and TU Fico 565 for 2000.00. At the time I only had two open ccs ( orchard and cap1/ 300 limit on each). I anticipated being declined for an unsecured card with NFCU because USAA declined me. NFCU showed lots of love and recommended I not open the secured card through them even though i want another credit line that i can control the limit on. My thinking was with one hard pull by NFCU I could get the secured card and increase the limit to whatever i want or get an unsecured card and know with responsibility they will be very generous with CLIs. I'm still leaning towards opening up the secured card but not sure what good it will do:-/

My current baddies on file:

BK 06/2003 due to fall of next year.

2 CO First Premier 2007 and 2008

5 collections most recent 2009

student loans in deferment

As I've learned from so many others....YMMV!!! Good Luck:-)

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 20:48:55 GMT

See thats the experience I'm speaking about! I only asked this because i remember seeing on a thread here a few people that had approvals with them and similiar scores to mine. But lost where the thread was. Thanks for the info.

Re: USAA & NFCU!!! Please Help!

Anonymous — Fri, 19 Oct 2012 20:52:21 GMT

Got scores from USAA Credit Check Monitoring, they are FAKOS but were within a few points of my last FICO scores, so I assume the increase and decreases would be relative. EQ is lowest actually. Collections are with the notorious CMI Group, Northeast Legal Group, and Holloway Credit Solutions. Been fighting with them faithfully over past two months.

Re: USAA & NFCU!!! Please Help!

Anonymous — Wed, 24 Oct 2012 19:30:00 GMT

Bumpig... Anymore comments?

Re: USAA & NFCU!!! Please Help!

webhopper — Wed, 24 Oct 2012 21:02:13 GMT

@Anonymous wrote:
These two cards are very much so on my radar! My question is what was everyone's credit file when they were approved for these? Credit scores, utilization levels, inquiries, late payments, collections? I REALLY want them both, but don't think my credit file is strong enough yet.

My credit file: 530, 524, 564

Revolving: 2 First Premiers cards - $300 limits each, 3 store charge cards - $400, $300, $500 respectively, never late on ANY...

Installment: personal loan $1500/$1800 - never late, auto loan $0/$9733 - 3 30day lates and 2 60day lates, student loan $0/$1400 - never late

Collections: 3 total left, $279 - 2008, $75 - 2006, $307 - 2010

Please Advise!

Thanks!

Unfortunately, you aren't quite there yet. Are you a full member of USAA and NFCU... Keep in mind that you can only apply for their cards if you are a full member.

That being said, You should ask about opening a secured credit card with both cards.

A secured card is a great place to start with building a relationship... as both USAA and NFCU will graduate them when its time.

Re: USAA & NFCU!!! Please Help!

Anonymous — Thu, 08 Nov 2012 18:15:03 GMT

Thanks for advice!

Yes, as you stated I'm not there yet. Will be waiting a couple more months. As far as membership, I am member of USAA, not with NFCU yet, although I'm elgibile, but was waiting because many people on this board opened accts with them all at once. Also not interested in secured cards as many people here have not had to go that route, worst case I will simply wait on my score to improve. Actually increase again over past week... 587 exp, 530 eq, 605 trans all fakos, increase came from balance being paid to below 50%...

Re: USAA & NFCU!!! Please Help!

distantarray — Thu, 08 Nov 2012 18:24:48 GMT

Go to creditboards they can show you how to remove charge offs and collections, i would post here but the mods frown upon some of their methods since it can get legitimate things removed =x

but also FIRE FIRST PREMIER as soon as you can get other cards, First Premier to Amex and Chase are like HIV positive patient trying to get Max Bacus's insurance plans.THey know how bad First Premier is, and they get a nice reflection of how good your reports were before you applied. Get secured cards, and you stated you got a score jump from paying your utilities down past 50%..... you don't owe much with those credit limits, pay it off 100% wait til your reports get updated and you could probably apply for Capital One and get a starter platinum card.

After that try to get a couple secured cards DCU is nice cause their secured cards graduates with a masters degree and you get your free fico score for life =) you need a FIco of 580 to join you should have a comfortable cushion once you pay your debts to 10% or below.

Re: USAA & NFCU!!! Please Help!

Anonymous — Thu, 08 Nov 2012 18:50:58 GMT

distantarray wrote:
Go to creditboards they can show you how to remove charge offs and collections, i would post here but the mods frown upon some of their methods since it can get legitimate things removed =x

but also FIRE FIRST PREMIER as soon as you can get other cards, First Premier to Amex and Chase are like HIV positive patient trying to get Max Bacus's insurance plans.THey know how bad First Premier is, and they get a nice reflection of how good your reports were before you applied. Get secured cards, and you stated you got a score jump from paying your utilities down past 50%..... you don't owe much with those credit limits, pay it off 100% wait til your reports get updated and you could probably apply for Capital One and get a starter platinum card.

After that try to get a couple secured cards DCU is nice cause their secured cards graduates with a masters degree and you get your free fico score for life =) you need a FIco of 580 to join you should have a comfortable cushion once you pay your debts to 10% or below.

Thanks for the advice buddy! Already a member on the aforementioned board, but I'm actually already in the process of 'cleaning up' the negatives on my credit file. Thanks to the awesome members here. Went from 12-13 collections 9 months ago, down to 3 now, and working off those persistently. Also working fervently on GWs for the lates. But thanks anyway.

Yes I do plan to drop FP once I'm able to secure other cards. So thanks! I can see how that hurts how I am perceived by other prime CCs.

Not interested at all in secured cards, as I mentioned earlier, if others with similar credit file as me have had to resort to secured cards, then I don't feel I need to, even if I had the extra money to put into them, which I don't. lol... Which actually explains why my CCs have balances. Would be zero if my finances allowed. Currently doesn't. Will next month however.

Captial One was on my radar, but they seem to be stingy with CLIs. I really would prefer to simply get USAA, NFCU, and one more card that is very generous with CLIs then I would sit on these for 3-5 years, then go for Amex and Chase after that or whoever the good prime CCs are offered through. I've been a member of ING Direct for years and don't know how the Capital One buyout will affect me, but I might just go for the starter platinum card as you suggested.

Thanks again for your help!

Re: USAA & NFCU!!! Please Help!

mt2va — Thu, 08 Nov 2012 19:21:45 GMT

I second the getting a secured CC with USAA. I just did that myself. As long as you have the money I don't think they will turn you down. My credit score is in the upper 400s right now and tons of collections/charge-offs. No current open revolving TL. I also have some 30 day lates on my open auto loan. Plus I included USAA in my bankruptcy 15 years ago. But I put $250 into my newly opened savings account with them & got an AmEx card. I'm a full member for 20 years with them so not sure that makes a different or not.

NFCU is also pretty generous. 3 years ago when they gave me 2 CC & re-financed my car loan I was low 500s on my credit score but not as many baddies. (just hadn't had any credit cards in a long time) They gave me $1,200 Visa & 2 weeks later $1,000 MC.

Now that I've sent my soon to be ex on his way I can finally get my life back on track including my finances/credit. I'm hoping if I can get things straight with NFCU they will consider extending me credit again in the future but right now I'm happy with USAA. (ironically they were my 1st CC ever back when I turned 18 & my mom co-signed it for me)

Re: USAA & NFCU!!! Please Help!

Anonymous — Thu, 08 Nov 2012 19:31:59 GMT

@mt2va wrote:
I second the getting a secured CC with USAA. I just did that myself. As long as you have the money I don't think they will turn you down. My credit score is in the upper 400s right now and tons of collections/charge-offs. No current open revolving TL. I also have some 30 day lates on my open auto loan. Plus I included USAA in my bankruptcy 15 years ago. But I put $250 into my newly opened savings account with them & got an AmEx card. I'm a full member for 20 years with them so not sure that makes a different or not.

NFCU is also pretty generous. 3 years ago when they gave me 2 CC & re-financed my car loan I was low 500s on my credit score but not as many baddies. (just hadn't had any credit cards in a long time) They gave me $1,200 Visa & 2 weeks later $1,000 MC.

Now that I've sent my soon to be ex on his way I can finally get my life back on track including my finances/credit. I'm hoping if I can get things straight with NFCU they will consider extending me credit again in the future but right now I'm happy with USAA. (ironically they were my 1st CC ever back when I turned 18 & my mom co-signed it for me)

Great story! Good advice! Thanks.

If I didn't get soooo many testimonies from people who did not have to get a secured CC from them first, then I would definitely do so, but have too much intel from credible peeps that suggests to simply wait and they will extend credit when scores improve.

I'm simply seeking to determine an estimated time, based on the strength of my credit by comparison to others, in which I should app that would give me the best chance at approval. That's why I'm asking all, how their scores/credit files were when they applied and was approved... Still thanks!